Redback Networks was a telecommunications equipment company, specializing in hardware and software used by ISPs to manage broadband services. In December 2006, Ericsson and Redback announced they had signed a definitive agreement under which Ericsson would acquire Redback. The transaction was completed in 2007, and Redback Networks is fully integrated in Ericsson. Redback Networks was founded in August, 1996 by Gaurav Garg and Asher Waldfogel, and traded on NASDAQ under the symbol RBAK. It was acquired by Ericsson in January 2007.